122
122
Jul 16, 2011
07/11
by
CSPAN
tv
eye 122
favorite 0
quote 0
it is hard to do a big package. our republican friends have said they are not willing to do revenues and they have repeated that on several occasions. i hope that they are listening not just to lobbyists for special interests here in washington, but they are also listening to the american people, because it turns out, many polls done by your organization show that it is not just democrats who show we need to take a balanced approach, many republicans do as well. many republican voters think that any deficit reduction package should have a balanced approach and should include some revenues. it is not just democrats. it is a majority of republicans. you have a whole slew of republican officials from previous administrations. you have a bipartisan commission that has said that we need revenues. this is not just a democratic understanding, this is an understanding that the american people believe we should not be asking sacrifices from middle- class folks who are working hard every day, from the most vulnerable in our s
it is hard to do a big package. our republican friends have said they are not willing to do revenues and they have repeated that on several occasions. i hope that they are listening not just to lobbyists for special interests here in washington, but they are also listening to the american people, because it turns out, many polls done by your organization show that it is not just democrats who show we need to take a balanced approach, many republicans do as well. many republican voters think...
177
177
Jul 2, 2011
07/11
by
CSPAN
tv
eye 177
favorite 0
quote 0
>> tom, you made the case of why to big to fail is a problem. but in talking about how you discourage or stop it, at least in the oral remarks you put emphasis on bringing back glass-steagall. what about size caps? if you are worried about size, that is the most direct way and you could argue well, even with glass-steagall you could get mergers, very large institutions, $2 trillion. they could lose their money on cni loans rather than investment banking. what about size katz, 3% to 4% of gdp, and that half a dozen u.s. institutions would be already above the cap and would have to come down over some period. you also have much bigger capital surcharges than what was agreed to over the weekend. that would be another way to i am just curious as to why he chose the glass-steagall route as opposed to the other routes for discouraging to big to fail? >> we did it and think about size. but part of what we thought about its size it isn't really the factory -- it is one of the factors, but not the primary factor. it is the nature of the risk -- whether y
>> tom, you made the case of why to big to fail is a problem. but in talking about how you discourage or stop it, at least in the oral remarks you put emphasis on bringing back glass-steagall. what about size caps? if you are worried about size, that is the most direct way and you could argue well, even with glass-steagall you could get mergers, very large institutions, $2 trillion. they could lose their money on cni loans rather than investment banking. what about size katz, 3% to 4% of...
190
190
Jul 24, 2011
07/11
by
CSPAN
tv
eye 190
favorite 0
quote 0
and being too big to fail requires allowing a cfi to fail. the second part of the act empowers the fed and the fdic to reduce the affect on the system in the event of a failure to tools such as liquidation of authority and approve a resolution planning. the federal reserve is working with the fdic to thecfis prepare for resolution by adopting living wills. the joint rule is expected this summer. reducing the likelihood of a severe crisis requires strengthening the resilience of markets an infrastructure. toward that end, provisions to improve the transparency and stability of the derivatives market and strength since he th -- strengthens the parts of the infrastructure. we and other agencies are moving this work for in consultation with the corporate foreign regulators. u.s. agencies are working to address structural weaknesses in areas not as easily addressed by the at, such as taconic repo -- such as the repo market. the fed is committed to the promulgation of rules that are sensible, protect smaller community institutions, and promote the
and being too big to fail requires allowing a cfi to fail. the second part of the act empowers the fed and the fdic to reduce the affect on the system in the event of a failure to tools such as liquidation of authority and approve a resolution planning. the federal reserve is working with the fdic to thecfis prepare for resolution by adopting living wills. the joint rule is expected this summer. reducing the likelihood of a severe crisis requires strengthening the resilience of markets an...
217
217
Jul 10, 2011
07/11
by
CSPAN
tv
eye 217
favorite 0
quote 0
what is the troop strength, the terrorist trained, how big is it? are the weapons coming through sudan or are any of them coming from china? with regards to the pirates, the doctor pointed out in his testimony and others have pointed out as well that there needs to be a land solution. i think that is obvious, but if you could touch on that. we will do all the questions -- >> deputy secretary, if i could ask this question -- when the last administration left office, there was an internal debate about whether eritrea should be designated as a state sponsor of terrorism for its support of al- sabah. it did not happen at the time, but just after she left government service, the former assistant secretary wrote a good piece in though wall street journal with these seem of eritrea should be listed as a state sponsor of terrorism. we have the u.n. reports citing their support and the case is cut and dry. the assistant secretary testified flat out that the government of eritrea continues to supply missions to extremist elements -- we are trying to put them
what is the troop strength, the terrorist trained, how big is it? are the weapons coming through sudan or are any of them coming from china? with regards to the pirates, the doctor pointed out in his testimony and others have pointed out as well that there needs to be a land solution. i think that is obvious, but if you could touch on that. we will do all the questions -- >> deputy secretary, if i could ask this question -- when the last administration left office, there was an internal...
230
230
Jul 4, 2011
07/11
by
CSPAN
tv
eye 230
favorite 0
quote 0
host: a big push from republicans on balanced-budget amendment. that issue has come back to the forefront in the gop terms. what is your reaction t that, eir current mantra? guest: i think the balanced budget amendment might be the worst idea -- would not say ever, but it is pretty terrible. putting a cap on total spending -- i think the house is saying 80% of gdp -- that would cripple government. it would require massive cuts to existing services, up to 70%, but it would -- in the ent of recession or war, it would sharply limit what the united states could actually do. i do not imagine -- quick spending for military action -- i do not imagine that happening at all. requiring the 2/3 votes for tax increases would put this in the same situation as california is right now. they are virtually not capable of dealing with their budget problems because it requires a 2/3 majoty to pass a tax measure. that has crippled the government. host: conn carroll? guest: do i have to? [laughter] i am not against the balanced budget. i think it is a way to kick the
host: a big push from republicans on balanced-budget amendment. that issue has come back to the forefront in the gop terms. what is your reaction t that, eir current mantra? guest: i think the balanced budget amendment might be the worst idea -- would not say ever, but it is pretty terrible. putting a cap on total spending -- i think the house is saying 80% of gdp -- that would cripple government. it would require massive cuts to existing services, up to 70%, but it would -- in the ent of...
183
183
Jul 17, 2011
07/11
by
CSPAN
tv
eye 183
favorite 0
quote 0
one would be eight to big to fail type attacks. it's your assets are over a threshold level, you pay a separate tax. one can limit interest deductibility. the first thing to realize is that financial institutions are highly specialized and understanding them is extremely difficult. regulatory apparatuses our best. but does not mean we have succeeded in the past, but it also does not mean we should try it tax instruments in a very complex setting with highly responsive taxpayers and a lot of this additional detail. that is why i am very skeptical of the tax estimate to address financial leverage. not because it is not a problem, but because there are better ways to do it. i understand there has been a failure to do it. there is little evidence in my mind that these kinds of taxes or a representation of the vengeance many of us feel. >> financial planners plan all around any kind of financial regulations. they are clever. >> indeed they are. >> they are driven to find a product that will find the greatest return. >> they will do more
one would be eight to big to fail type attacks. it's your assets are over a threshold level, you pay a separate tax. one can limit interest deductibility. the first thing to realize is that financial institutions are highly specialized and understanding them is extremely difficult. regulatory apparatuses our best. but does not mean we have succeeded in the past, but it also does not mean we should try it tax instruments in a very complex setting with highly responsive taxpayers and a lot of...
238
238
Jul 23, 2011
07/11
by
CSPAN
tv
eye 238
favorite 0
quote 0
-pakistan relationships are a big priority. we organize events on a monthly basis. senior pakistan officials also regularly speak here. earlier this spring, we hosted pakistan's finance minister. we bring in columnists and journalists. in addition to our regular fellowship competitions, open to all nationalities, our asia program sponsors a fellowship open to only pakistani scholars. one of our former scholars was written while he was a woodrow wilson scholar and is with us today. where are you? please stand. welcome. our asia program has undertaken an extensive review of the assistance program and will rollout recommendations of that plan. the house foreign affairs committee yesterday "fenced" funding for economic and military assistance to pakistan until the president certifies there is adequate cooperation on counter-terrorism. that is just one house committee, but that is a move that, some feel, maybe going in the wrong direction. economic assistance is crucial. president musharraf's speech comes at a timely moment. relations between our two countries are more s
-pakistan relationships are a big priority. we organize events on a monthly basis. senior pakistan officials also regularly speak here. earlier this spring, we hosted pakistan's finance minister. we bring in columnists and journalists. in addition to our regular fellowship competitions, open to all nationalities, our asia program sponsors a fellowship open to only pakistani scholars. one of our former scholars was written while he was a woodrow wilson scholar and is with us today. where are...